04.08.2019, 2355 Zeichen

Valneva: Valneva SE, an Austrian/french biotech company developing and commercializing vaccines for infectious diseases with major unmet needs, announced the formation of a Scientific Advisory Board (“SAB”) as part of the evolution of its governance structure. The newly formed SAB will consist of distinguished academic and industry professionals who will provide the Company with guidance and expert advice on Research & Development (“R&D”) strategies. The SAB remit will also include program execution considerations in the framework of innovation, market dynamics and trends. Former Valneva Supervisory Board members, Ralf Clemens, and Alain Munoz, will join the SAB. Both have a deep understanding of the Company after serving on its Supervisory Board for many years. Clemens will chair the SAB.
Valneva: weekly performance: -1.94%

Andritz: Due to the weakness of the international automotive market and the resulting low investment activity by car manufacturers and their suppliers, international technology Group Andritz will adjust its manufacturing capacities and cost structures in Germany in the Metals Forming segment (Schuler), as announced, in line with the difficult and strongly changing market conditions. A corresponding cost-cutting and action plan, implementation of which is now being discussed with the relevant employee representatives, has been adopted by the Schuler Executive Board. In order to maintain competitiveness on the international market for presses and press lines in the long term, a further reduction of manufacturing capacities and of around 500 people in Germany - mainly in manufacturing - is necessary at the Schuler Group . The headcount at Schuler in Germany was already adjusted in recent years to the difficult market conditions. The total extraordinary expenses for these measures amount to approximately Euro 85 mn, approximately 70% of which are cash-effective, while the remainder relates to depreciation of fixed assets (machinery and buildings) in connection with the reduction of manufacturing capacities. The provisions for these expenses will be booked in the 3rd quarter of 2019 and will thus have a negative impact on the earnings of the Andritz Group in the 2019 business year.
Andritz: weekly performance: 1.75%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (29/07/2019)

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